Belmont Capital LLC Purchases 89,400 Shares of NOV Inc. $NOV

Key Points

• Belmont Capital LLC increased its stake in NOV Inc. by 31.9%, owning 369,591 shares worth approximately $5.6 million, making it the 16th largest holding in their portfolio.
• NOV's stock recently opened at $13.10 and has experienced a 1.5% decline, while the company reported a quarterly revenue of $2.19 billion, slightly exceeding estimates.
• The company declared a quarterly dividend of $0.075 per share, indicating a 2.3% dividend yield and a payout ratio of 24.59%.

Belmont Capital LLC raised its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,591 shares of the oil and gas exploration company's stock after purchasing an additional 89,400 shares during the quarter. NOV accounts for approximately 1.0% of Belmont Capital LLC's portfolio, making the stock its 16th largest position. Belmont Capital LLC owned about 0.10% of NOV worth $5,625,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in NOV during the first quarter worth $36,000. Exchange Traded Concepts LLC increased its holdings in NOV by 382.9% during the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock worth $277,000 after buying an additional 14,432 shares during the last quarter. GAMMA Investing LLC increased its holdings in NOV by 172.9% during the first quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock worth $66,000 after buying an additional 2,737 shares during the last quarter. Vanguard Group Inc. increased its holdings in NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock worth $600,627,000 after buying an additional 566,160 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of NOV by 15.1% in the first quarter. Envestnet Asset Management Inc. now owns 669,077 shares of the oil and gas exploration company's stock worth $10,183,000 after purchasing an additional 87,909 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Trading Down 0.5%

Shares of NOV traded down $0.07 during mid-day trading on Friday, reaching $13.30. The company's stock had a trading volume of 3,113,790 shares, compared to its average volume of 3,027,323. The stock has a market cap of $4.94 billion, a PE ratio of 10.90, a P/E/G ratio of 3.80 and a beta of 1.34. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $17.12. The company's fifty day moving average price is $12.89 and its two-hundred day moving average price is $13.12.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%.The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. On average, analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio is currently 24.59%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOV. Stifel Nicolaus reduced their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Wells Fargo & Company cut their price objective on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, June 5th. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Morgan Stanley cut their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Evercore ISI dropped their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $16.56.

NOV Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.